The Honolulu Board of Realtors released their latest monthly Oahu residential real estate statistical reports for November 2020. You can view the reports here:
Local Neighborhood Market Update
Following are charts illustrating activity in the luxury real estate market for November 2020 YTD compared to the same time period last year:
DIAMOND HEAD & KAHALA SINGLE FAMILY HOME SALES (Excludes Condos) – November 2020 YTD vs November 2019 YTD
| $0-$3M | $3M-$5M | $5M+ | TOTAL SALES | Average Sale Price | |
| 2020 NOV YTD SOLDS | 34 | 13 | 9 | 56 | $3,134,750 |
| 2019 NOV YTD SOLDS | 36 | 13 | 9 | 58 | $3,078,138 |
OAHU $3M+ HOME/CONDO/LAND SALES – November 2020 YTD vs November 2019 YTD
| HOME SALES | CONDO SALES | LAND SALES | TOTAL SALES | Average Sale Price | |
| 2020 NOV YTD SOLDS | 70 | 26 | 5 | 101 | $4,985,573 |
| 2019 NOV YTD SOLDS | 58 | 30 | 1 | 89 | $5,171,114 |
Limited Travel from Target Buyers
Travelers from Silicon Valley, Japan and Canada may be able to come to Hawaii with a valid COVID test, but they face a significant quarantine upon returning to their city/country. Thus, what is considered to be a decent source of buyers is still limited due to travel restrictions. In addition, Japan is providing incentives for residents to travel within the country, promoting its own tourist destinations and keeping its citizens within Japan’s own bubble. It seems we are still going to depend upon a vaccine for a return of substantial numbers of out-of-state buyers.